Human-Readable Names

Cryptocurrency wallets and blockchain addresses are typically identified by a long string of letters and numbers that can be difficult to remember and share. To make things easier, many blockchain networks have implemented human-readable names, which allow users to assign a memorable name to their wallet or address. This makes it easier to share the address with others, and can even help to prevent errors when entering the address manually.

How do Human-Readable Names Work?

Human-readable names are typically resolved using the Domain Name System (DNS), which is the same system used to translate domain names into IP addresses on the internet. When a user assigns a name to their wallet or address, it is added to a distributed database that can be queried to retrieve the corresponding address.

For example, if Alice assigns the name “alice.wallet” to her cryptocurrency wallet address, other users can enter “alice.wallet” into their wallet software or blockchain explorer to retrieve the address. The software will query the distributed database to retrieve the corresponding address, which can then be used to send or receive cryptocurrency.

What are the Benefits of Human-Readable Names?

There are several benefits to using human-readable names for cryptocurrency wallets and addresses:

Easier to remember: Instead of trying to memorize a long string of letters and numbers, users can assign a name that is easier to remember and share.

Error prevention: When manually entering a cryptocurrency address, it is easy to make mistakes. Using a human-readable name can help to prevent errors and ensure that the transaction goes to the correct address.

User-friendly: Human-readable names make cryptocurrency wallets and addresses more user-friendly, which can help to attract new users to the space.

Which Blockchain Networks Support Human-Readable Names?

Several blockchain networks have implemented their own naming systems to support human-readable names. Some of the most popular include:

Ethereum Name Service (ENS): This is a decentralized naming system for Ethereum addresses that allows users to assign human-readable names to their wallets and contracts.

Handshake: This is a blockchain-based naming system that allows users to register top-level domain names and subdomains.

Namecoin: This is a fork of Bitcoin that includes a naming system for blockchain addresses.

In conclusion, human-readable names are a user-friendly way to access cryptocurrency wallets and blockchain addresses. By assigning a memorable name to their wallet or address, users can make it easier to share and remember, and even help to prevent errors when entering the address manually. With more blockchain networks implementing their own naming systems, we can expect to see even more widespread adoption of human-readable names in the future.